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Partnerships

DXYZ

META

Meta Platforms Inc.'s Chief AI Scientist, Yann LeCun, criticized OpenAI's early investor, Vinod Khosla, for supporting a closed-source approach to AI, motivated by financial gains and concerns over China's access to AI technology. LeCun advocates for open-source AI to ensure a diverse and democratic future. Meanwhile, Destiny Tech100 Inc. fund, which invests in tech companies including OpenAI, has seen a significant drop in value.

Portfolio Pulse from Rounak Jain

May 13, 2024 | 9:05 am

ZPTA

Zapata Computing Holdings Inc. (NASDAQ:ZPTA), an Industrial Generative AI company, announced Sumit Kapur as the new CFO effective May 20, 2024. Kapur, with a background in AI, investment banking, and scaling businesses, is expected to support Zapata AI's expansion across various industries. He succeeds Mimi Flanagan, who is leaving for personal reasons. Kapur's previous role was CFO at 3Degrees, where he significantly scaled the business.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:17 am

PEGA

Pegasystems Inc. (NASDAQ:PEGA) has expanded its relationship with the UK's tax authority, HMRC, through a new five-year agreement to enhance HMRC's digital transformation with Pega's software. This agreement emphasizes the use of Pega's Customer Service and Decisioning software to improve customer experience and streamline tax advisory services.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:02 am

ECL

Ecolab and HeiQ Chrisal have launched the Maxx Synbiotic cleaning range at Interclean in Amsterdam, introducing advanced synbiotic cleaning products to the European market. The products, featuring pre- and probiotics, aim for efficient cleaning and odor reduction, with scientific validation from a study published in The Lancet.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:10 am

NTES

NetEase Cloud Music has entered into a licensing agreement with Kakao Entertainment to expand its K-Pop catalog in China. This partnership aims to leverage Kakao Entertainment's extensive catalog and popular artists to attract younger audiences in China, enhancing NetEase Cloud Music's content library.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:07 am

PTEN

SLB

Patterson-UTI has signed a non-binding term sheet to partner with ADNOC Drilling in the UAE, aiming for a minority stake in Turnwell Industries LLC OPC, which has secured a $1.7 billion contract for drilling 144 unconventional wells for ADNOC. Schlumberger Middle East SA, a subsidiary of SLB, is also expected to hold a minority stake in Turnwell.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:46 am

NVDA

NVIDIA Corp (NASDAQ:NVDA) has seen a significant surge in its stock price, with a 240% increase in 2023 and an additional 80% in 2024, sparking a debate among fund managers on its future investment potential. Trent Masters from Alphinity Investment Management views the stock as a good buy due to its strong market share and sustainable earnings, while Adam Coons from Winthop Investment Management advises caution due to inflated valuations. Nvidia's market value has reached $2.27 trillion, largely due to its pivotal role in AI technology, attracting major partnerships and investments. Goldman Sachs has raised its 12-month price target for Nvidia to $1,100, maintaining a 'Buy' rating.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 5:00 am

AMZN

YouTube star MrBeast has invited billionaires to collaborate on philanthropy projects for his Beast Philanthropy channel, promising to use their wealth for charitable causes. He announced this initiative on X, highlighting that all revenue from the channel supports charity. Additionally, MrBeast is exploring new ventures, including a game show deal with Amazon's Prime Video, emphasizing creative control as a key factor in choosing Amazon over other platforms.

Portfolio Pulse from Ananya Gairola

May 13, 2024 | 3:31 am

GOOG

GOOGL

MSFT

Sundar Pichai, CEO of Alphabet Inc., responded to Microsoft CEO Satya Nadella's comments about making Google 'dance' with the introduction of the new Bing, powered by OpenAI's ChatGPT. Pichai emphasized the importance of not being swayed by competitors' moves. Despite being initially caught off guard by the launch of ChatGPT, Google is catching up by leveraging its user base and intensifying AI efforts, including developing its own AI chips and enhancing Google Workspace with AI.

Portfolio Pulse from Ananya Gairola

May 11, 2024 | 1:52 pm

DIS

HTZ

NVDA

PLTR

SBUX

Benzinga's weekly review highlights bullish and bearish perspectives on stocks like Nvidia, Starbucks, Palantir, and insights into meme coin investments. Key financial indicators and upcoming events, such as the Consumer Price Index report and a speech by the Federal Reserve Chair, are also noted. Bullish views include Palantir's buying opportunity post-Q1 earnings, Disney's DTC unit's profitability, and an investor's success with meme coins. Bearish takes involve Hertz's wrongful Tesla refueling charge, Starbucks' sales slump due to Middle Eastern policy backlash, and a significant Nvidia stake sale by a former Soros fund manager.

Portfolio Pulse from Michael Cohen

May 11, 2024 | 1:25 pm